Need help with this accounting question Bravo Company manufactures quality gentlemen's clothing. The followingselected financial information for the fiscal year 2016 is provided:ItemSalesCost of Goods ManufacturedDirect Material PurchasedFactory OverheadWork in Process-January 1Work in Process-December 31Direct Material-December 31Amount$100,00065,00040,00010,00030,00015,00010,000Finished Goods Inventory-December 31 60,000Net IncomeDirect Materials UsedCost of Goods Sold15,00030,00055,000Use this information to determine the dollar amount of Bravo's Direct LaborCosts for the fiscal year.

Step 1: Understand the formula for Cost of Goods Manufactured (COGM)Step 2: Substitute the known…

Answered: Bravo Company manufactures quality…

College Accounting, Chapters 1-27

23rd Edition

ISBN:9781337794756

Author:HEINTZ, James A.

Publisher:HEINTZ, James A.

Chapter26: Manufacturing Accounting: The Job Order Cost System

Section: Chapter Questions

Problem 2SEA: SCHEDULE OF COST OF GOODS MANUFACTURED The following information is supplied for Maupin...

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Prepare a cost of goods sold budget for MacLaren Manufacturing Inc. for the year ended December 31, 2016, from the following estimates. Inventories of production units: Direct materials purchased during the year, 548,000; beginning inventory of direct materials, 36,000; and ending inventory of direct materials, 23,000. Totals from other budgets included:
The following information is available for the first year of operations of Creston Inc., a manufacturer of fabricating equipment: Determine the following amounts: a. Cost of goods sold b. Direct materials cost c. Direct labor cost
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Webster Company uses backflush costing to account for its manufacturing costs. The trigger points for recording inventory transactions are the purchase of materials, the completion of products, and the sale of completed products. Required: 1. Prepare journal entries, if needed, to account for the followingtransactions. a. Purchased raw materials on account, 135,000. b. Requisitioned raw materials to production, 135,000. c. Distributed direct labor costs, 20,000. d. Incurred manufacturing overhead costs, 80,000. (Use Various Credits for the credit part of the entry.) e. Cost of products completed, 235,000. f. Completed products sold for 355,000, on account. 2. Prepare any journal entries that would be different from theabove, if the only trigger points were the purchase of materialsand the sale of finished goods.
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View Policies Current Attempt in Progress The following data were taken from the records of Shamrock Company for the fiscal year ended June 30, 2022. Raw Materials Inventory 7/1/21 Raw Materials Inventory 6/30/22 Finished Goods Inventory 7/1/21 Finished Goods Inventory 6/30/22 Work in Process Inventory 7/1/21 Work in Process Inventory 6/30/22 Direct Labor Indirect Labor $50,400 39,900 99,600 20,600 27,300 20,100 148,350 25,660 Accounts Receivable Factory Insurance Factory Machinery Depreciation Factory Utilities Office Utilities Expense Sales Revenue Sales Discounts Factory Manager's Salary Factory Property Taxes Factory Repairs Raw Materials Purchases Cash $28,000 5,500 18,100 30,100 8,650 562,100 5,300 64,900 9.610 2,200 98,700 38,200
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An incomplete cost of goods manufactured schedule is presented here.Complete the cost of goods manufactured schedule for Splish Brothers Company. (Assume that all raw materials used were direct materials.) SPLISH BROTHERS COMPANYCost of Goods Manufactured ScheduleFor the Year Ended December 31, 2022 Work in process, January 1 $243,600 Direct materials Raw materials inventory, January 1 $enter a dollar amount Raw materials purchases 184,000 Total raw materials available for use enter a total of the two previous amounts Less: Raw materials inventory, December 31 27,000 Direct materials used $208,800 Direct labor enter a dollar amount Manufacturing overhead Indirect labor 21,600 Factory depreciation 41,400 Factory utilities 79,600 Total manufacturing overhead 142,600 Total…

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